scholarly journals How Does R&D Investment Affect the Financial Performance of Cultural and Creative Enterprises? The Moderating Effect of Actual Controller

2019 ◽  
Vol 11 (2) ◽  
pp. 297 ◽  
Author(s):  
Zhipeng Zang ◽  
Qiwei Zhu ◽  
Helena Mogorrón-Guerrero
Keyword(s):  
Financial Performance ◽  
Technological Innovation ◽  
Local Governments ◽  
Central Government ◽  
Moderating Effect ◽  
Short Term ◽  
D Investment ◽  
Positive Impacts

R&D investment has a sophisticated correlation with the financial performance of cultural and creative enterprises. In this study, using the panel data of listed cultural and creative enterprises in China from 2011 to 2013, we found that R&D investment has positive impacts on financial performance in both the current and the lag periods. However, these positive impacts are moderated by actual controllers. More specifically, there is a positive moderating effect on enterprises’ financial performance when the central government is the actual controller. On the other hand, there is no evident effect when the actual controller is a local government or a state-owned enterprise, and there is a clear negative moderating effect on financial performance when a natural person is the actual controller. Given these findings, we argue that local governments and state-owned enterprises should improve their long-term strategies for the cultural and creative enterprises they control and reduce actions forced by short-term economic goals. Additionally, local governments and state-owned enterprises should fundamentally stress the role of R&D in order to handle the pressure of increasingly keen competition from international companies’ technological innovation programs.

scholarly journals Debt and financial performance of SMEs: The missing role of debt maturity structure.

2013 ◽  
Vol 10 (3) ◽  
pp. 354-365 ◽  
Author(s):  
Hayam Wahba
Keyword(s):  
Financial Performance ◽  
Opposite Effect ◽  
Debt Maturity ◽  
Random Effects Model ◽  
Short Term ◽  
Debt Maturity Structure ◽  
Maturity Structure ◽  
The Relationship

This paper focuses on an important issue, which has generally received less attention in SMEs literature, being the effect of debt maturity structure on financial performance. The random effects model, as a panel data technique, is used to examine the relationship between debt and various measures of financial performance. The results reveal that it is not the level of leverage that determines financial performance, but rather the debt maturity structure. Specifically, the findings demonstrate that short-term debt and long-term debt have an opposite effect on financial performance and therefore tend to cancel out. This is the first study, to the best of knowledge, which offers empirical evidence regarding debt maturity structure not only in SMEs context, but also from an Egyptian perspective.

scholarly journals Capital Structure and Firm Financial Performance: Moderating Effect of Board Financial Literacy in Nigerian Listed Non-Financial Companies

2021 ◽  
Vol 4 (1) ◽  
pp. 48-66
Author(s):  
Udisifan Michael Tanko ◽  
Akeem Adetunji SIYANBOLA ◽  
Paul Matudi Bako ◽  
Olalere Victor DOTUN
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Financial Literacy ◽  
Secondary Data ◽  
Moderating Effect ◽  
Least Square ◽  
Short Term ◽  
Firm Financial Performance ◽  
Academic Qualification

Objective – The study examined the moderating effect of board financial literacy on the relationship between capital structure and firm financial performance of listed non-financial companies in Nigeria.  Design/methodology – Capital structure was measured by long term debts to total assets, short term debts to total assets equity to total debt ratio and board financial literacy was measured by ratio of board members that have professional and academic qualification in accounting, finance and economics. Meanwhile financial performance was measured by return on assets. Secondary data was extracted from the sampled firms annual report and accounts and analyzed using Panel Least Square. Results – The study revealed a positive and significant relationship between long term debt and ROA. It also shows that board financial literacy moderate capital structure significantly and increase firm performance. The study recommended that the management of Nigerian listed non-financial firms should optimize the capital structure in order to increase the financial performance. They can do that through ensuring that their capital structure is optimal by using more of current debts and non-current debt than equity. The Board of Directors of Nigerian listed company should be concerned about the level of long term debt, short term debt and include members that are financially literate who will contribute in financing decision of firm in order make optimal capital structure for better financial performance. This is because the findings of this study revealed a positive significant moderating relationship between long term debt, short term debt and financial performance.

OPTIMALISASI PERAN PEMDA DALAM MENGATASI KENDALA PELAKSANAAN KONSERVASI KEANEKARAGAMAN HAYATI DI DAERAH (STUDI KASUS PROVINSI BENGKULU)

2020 ◽  
Vol 15 (2) ◽  
Author(s):  
Antung Deddy Radiansyah
Keyword(s):  
Local Government ◽  
Biodiversity Conservation ◽  
Local Governments ◽  
Central Government ◽  
Wild Plants ◽  
Regional Government ◽  
Conservation Areas ◽  
Conservation Area ◽  
Conservation Policies

Gaps in biodiversity conservation management within the Conservation Area that are the responsibility of the central government and outside the Conservation Areas or as the Essential Ecosystems Area (EEA) which are the authority of the Regional Government, have caused various spatial conflicts between wildlife /wild plants and land management activities. Several obstacles faced by the Local Government to conduct its authority to manage (EEA), caused the number and area of EEA determined by the Local Government to be still low. At present only 703,000 ha are determined from the 67 million ha indicated by EEA. This study aims to overview biodiversity conservation policies by local governments and company perceptions in implementing conservation policies and formulate strategies for optimizing the role of Local Governments. From the results of this study, there has not been found any legal umbrella for the implementation of Law number 23/ 2014 related to the conservation of important ecosystems in the regions. This regulatory vacuum leaves the local government in a dilemma for continuing various conservation programs. By using a SWOT to the internal strategic environment and external stratetegic environment of the Environment and Forestry Service, Bengkulu Province , as well as using an analysis of company perceptions of the conservation policies regulatary , this study has been formulated a “survival strategy” through collaboration between the Central Government, Local Governments and the Private Sector to optimize the role of Local Government’s to establish EEA in the regions.Keywords: Management gaps, Essential Ecosystems Area (EEA), Conservation Areas, SWOT analysis and perception analysis

Financial Performance of ECIL, Hyderabad – An Analysis

2013 ◽  
Vol 3 (2) ◽  
Author(s):  
N. Jyothi ◽  
Dr. T. Satyanarayana Chary
Keyword(s):  
Public Sector ◽  
Performance Analysis ◽  
Private Sector ◽  
Financial Performance ◽  
Business Environment ◽  
Present Position ◽  
Short Term ◽  
Comprehensive Manner

Financial performance of individual organizations differ very significantly, however, the performance is distinguishable between public sector companies and private sector companies as their nature and size of investment and business environment is different . The ECIL is a very vast growing company which requires additional funds on a regular basis, whether internal or external. Particularly, the company needs both long term and short-term finances in view of its present position and enormous scope for improvement in the services provided. The present paper is a modest attempt to discuss the financial performance analysis of ECIL, Hyderabad in terms operating profits, capital employed ratios and turnover in a comprehensive manner over a period of 10 years.

Impact of FII’s and FDI’s on Indian Stock Market

2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Dr. Kamlesh Kumar Shukla
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Global Economy ◽  
Short Term ◽  
Earnings Growth ◽  
The Past ◽  
Bull Market ◽  
Indian Stock Market

FIIs are companies registered outside India. In the past four years there has been more than $41 trillion worth of FII funds invested in India. This has been one of the major reasons on the bull market witnessing unprecedented growth with the BSE Sensex rising 221% in absolute terms in this span. The present downfall of the market too is influenced as these FIIs are taking out some of their invested money. Though there is a lot of value in this market and fundamentally there is a lot of upside in it. For long-term value investors, there’s little because for worry but short term traders are adversely getting affected by the role of FIIs are playing at the present. Investors should not panic and should remain invested in sectors where underlying earnings growth has little to do with financial markets or global economy.

Introduction: Kinship Bereavement in Later Life

1997 ◽  
Vol 35 (1) ◽  
pp. 1-7 ◽  
Author(s):  
Brian De Vries
Keyword(s):  
Adult Child ◽  
Later Life ◽  
Short Term ◽  
Traumatic Grief ◽  
Death Of A Parent ◽  
De Vries ◽  
Longitudinal Effects ◽  
Analysis Of Variation

This article introduces a volume devoted to the examination of later-life bereavement: an analysis of variation in cause, course, and consequence. Six articles address and represent this variation and comprise this volume: 1) Prigerson et al. present case histories of the traumatic grief of spouses; 2) Hays et al. highlight the bereavement experiences of siblings in contrast to those spouses and friends; 3) Moss et al. address the role of gender in middle-aged children's responses to parent death; 4) Bower focuses on the language adopted by these adult children in accepting the death of a parent; 5) de Vries et al. explore the long-term, longitudinal effects on the psychological and somatic functioning of parents following the death of an adult child; and 6) Fry presents the short-term and longitudinal reactions of grandparents to the death of a grandchild. A concluding article is offered by de Vries stressing both the unique and common features of these varied bereavement experiences touching on some of the empirical issues and suggesting potential implications and applications.

scholarly journals Shades between Black and Green Investment: Balance or Imbalance?

2021 ◽  
Vol 13 (9) ◽  
pp. 5024
Author(s):  
 Vítor Manuel de Sousa Gabriel ◽  
María Mar Miralles-Quirós ◽  
José Luis Miralles-Quirós
Keyword(s):  
Risk Factor ◽  
Oil Prices ◽  
Oil Price ◽  
Short Term ◽  
Environmental Indices ◽  
Long Run ◽  
Green Investment ◽  
Bounds Test

This paper analyses the links established between environmental indices and the oil price adopting a double perspective, long-term and short-term relationships. For that purpose, we employ the Bounds Test and bivariate conditional heteroscedasticity models. In the long run, the pattern of behaviour of environmental indices clearly differed from that of the oil prices, and it was not possible to identify cointegrating vectors. In the short-term, it was possible to conclude that, in contemporaneous terms, the variables studied tended to follow similar paths. When the lag of the oil price variable was considered, the impacts produced on the stock market sectors were partially of a negative nature, which allows us to suppose that this variable plays the role of a risk factor for environmental investment.

scholarly journals The key role of contact time in elucidating the mechanisms of enhanced decontamination by Fe0/MnO2/sand systems

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Viet Cao ◽  
Ghinwa Alyoussef ◽  
Nadège Gatcha-Bandjun ◽  
Willis Gwenzi ◽  
Chicgoua Noubactep
Keyword(s):  
Contact Time ◽  
Diffusive Transport ◽  
Iron Hydroxides ◽  
Iron Corrosion ◽  
Short Term ◽  
Batch Studies ◽  
Water Decontamination ◽  
Co Precipitation

AbstractMetallic iron (Fe0) has shown outstanding performances for water decontamination and its efficiency has been improved by the presence of sand (Fe0/sand) and manganese oxide (Fe0/MnOx). In this study, a ternary Fe0/MnOx/sand system is characterized for its discoloration efficiency of methylene blue (MB) in quiescent batch studies for 7, 18, 25 and 47 days. The objective was to understand the fundamental mechanisms of water treatment in Fe0/H2O systems using MB as an operational tracer of reactivity. The premise was that, in the short term, both MnO2 and sand delay MB discoloration by avoiding the availability of free iron corrosion products (FeCPs). Results clearly demonstrate no monotonous increase in MB discoloration with increasing contact time. As a rule, the extent of MB discoloration is influenced by the diffusive transport of MB from the solution to the aggregates at the bottom of the vessels (test-tubes). The presence of MnOx and sand enabled the long-term generation of iron hydroxides for MB discoloration by adsorption and co-precipitation. Results clearly reveal the complexity of the Fe0/MnOx/sand system, while establishing that both MnOx and sand improve the efficiency of Fe0/H2O systems in the long-term. This study establishes the mechanisms of the promotion of water decontamination by amending Fe0-based systems with reactive MnOx.

scholarly journals Reform in the international food aid regime: the role of consensual knowledge

1992 ◽  
Vol 46 (1) ◽  
pp. 225-264 ◽  
Author(s):  
Raymond F. Hopkins
Keyword(s):  
Economic Development ◽  
International Organizations ◽  
Epistemic Community ◽  
Food Aid ◽  
Local Production ◽  
Short Term ◽  
The 1950S ◽  
Food Imports

The principles and norms adopted by the regime governing food aid in the 1950s have changed substantially during the subsequent three decades. Explaining the changes necessarily includes analyzing the efforts of an international epistemic community consisting of economic development specialists, agricultural economists, and administrators of food aid. According to the initial regime principles, food aid should be provided from donors' own surplus stocks, should supplement the usual commercial food imports in recipient countries, should be given under short-term commitments sensitive to the political and economic goals of donors, and should directly feed hungry people. As a result of following these principles, the epistemic community and other critics argued, food aid often had the adverse effects of reducing local production of food in recipient countries and exacerbating rather than alleviating hunger. The epistemic community (1) developed and proposed ideas for more efficiently supplying food aid and avoiding “disincentive” effects and (2) pushed for reforms to make food aid serve as the basis for the recipients' economic development and to target it at addressing long-term food security problems. The ideas of the international epistemic community have increasingly received support from international organizations and the governments of donor and recipient nations. Most recently, they have led to revisions of the U.S. food aid program passed by Congress in October 1990 and signed into law two months later. As the analysis of food aid reform demonstrates, changes in the international regime have been incremental, rather than radical. Moreover, the locus for the change has shifted from an American-centered one in the 1950s to a more international one in recent decades.

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